NTG Clarity Networks Inc.

NTG Clarity Networks Inc.

July 19, 2011 16:07 ET

NTG Clarity Networks Inc. Refiles First Quarter 2011 Statements With Additional IFRS Disclosures

TORONTO, ONTARIO--(Marketwire - July 19, 2011) - NTG Clarity Networks Inc. (TSX VENTURE:NCI), announced today that it has revised and refiled its unaudited interim financial statements for the three month period ended March 31, 2011.

The changes, as compared to the interim financial statements that were filed on June 28, 2011 are to:
  • include statements of changes in equity for the three month periods ended March 31, 2011 and March 31, 2010, as required under subsection 4.3(2)(b) of the National Instrument NI 51-102 and under paragraph 20(c) of the International Accounting Standard 34 Interim Financial Reporting.

  • include the equity reconciliation for March 31, 2010 and a disclosure of the comprehensive income reconciliations for the three months ended March 31, 2010 and for the twelve months ended December 31, 2010 as required by IFRS 1 First-time Adoption of International Financial Reporting Standards and as required under subsection 3.2(1)(a) of the National Instrument 51-107 Acceptable Accounting Principles and Auditing Standards (NI 52-107).

  • remove the equity reconciliation and the cash flow reconciliation for March 31, 2011 as they are not required and amend the Statement of Cash Flows.

The refiled interim financial statements including the above-noted revisions have been filed with the Canadian securities regulators on SEDAR and may be viewed on www.sedar.com.

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